kernel panic console not initialized

[Jude T. DaShiell]

I'm using slackware 7 out of the zipspeak 0.08 distribution and it appears
unable to find and initialize a console after the partition check is done.
It's possible I have a less than perfect install on my hard drive.  Can
reinstall if necessary.  I don't know what value to use with init=
statement.  The -txmode parameter doesn't seem to help matters either.